TransThera Sciences (HKG:2617) made a spectacular debut on the Hong Kong Stock Exchange, with its shares soaring 63.12% in early trading. The impressive rally comes on the heels of the company's highly successful initial public offering (IPO), which raised HK$161.3 million in net proceeds.

The clinical-stage biopharmaceutical firm's IPO garnered significant investor interest, particularly in its Hong Kong component. The local offering was an astounding 3,419.87 times oversubscribed, prompting the company to double the number of shares allocated to the public offering. This reallocation, increasing from 1,528,500 to 3,057,000 shares, underscores the strong demand from Hong Kong investors.

TransThera Sciences offered a total of 15,281,000 shares priced at HK$13.15 per share. While the international offering was 0.97 times subscribed, the overwhelming response to the Hong Kong component has clearly set a positive tone for the stock's market debut. The strong investor confidence and successful capital raise appear to be the primary drivers behind the stock's explosive start, reflecting optimism about the company's future prospects in the competitive biopharmaceutical sector.